Author

Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 167. (Read 452224 times)

hero member
Activity: 924
Merit: 506
I find the merged mining coin (Namecoin) a great idea.

Why ?

Simply because at 25 TH/s merged mining NMC can weekly bring ~ 3.81BTC (~ 4,405 $).
This can literally bring almost a Cointerra Miner per Week to LRM in addition to the already reinvestment plan in place.

A very good income for reinvestment or LRM operating load.

Agree. But I've made this suggestion to LR long ago to no avail.
hero member
Activity: 518
Merit: 500
Hodl!
Hey...

http://www.coindesk.com/british-island-physical-bitcoins-uk-royal-mint/

Read that, then consider, could we get Alderney to throw fiat at us for a wind powered bitcoin mine?
full member
Activity: 146
Merit: 100
Great news everyone!  It's dividend day!
hero member
Activity: 504
Merit: 500
Right Daemonfox !

And with GPU no pre-order BS...

I sell all my GPU rig a few month ago...i rebuild them right now.
A lot more profitable than Asic (i can resell my GPU to gamers...not my Asics...)
hero member
Activity: 630
Merit: 500
Scryptcoins... lol... I love em... so much... I mined and bought over 5K of one with a single Radeon 7950 over the least few months.

5250... cost me about $150 in electric costs in the last 5 months of mining various scrypt coins... I already paid the cards cost off in the couple of months before that trading and selling as best I could, including the electric.

Guess what... know what coin it was? Megacoins... know how much my maths say I averaged in cost buying and mining them? About 3K Satoshis each.

I sold all but 250 of them when it hit 65K Satoshis each... lets just round that down to 21X the cost. This was also when BTC was under $100... and I sold the BTC to USD upon trading... at over $1000... so lets just call that 10X cost.

5K X 0.00065 = 3.25 BTC
(3.25 BTC X ~$1000) -$150 = ~$3100

Not too bad... paid for the holidays and my upcoming trip to NY for Christmas. Wish I had held just a bit longer... MEC is now 0.0015+ BTC each. I got lucky and mined 100 more in the last couple days... my GPU made ~$170 in the last 36 hours.

Small comparison to share... right now on various scrypt coins... my Radeon 7950 is JUST as profitable as my 33GH/s Chili from MrTeal... most of the day today.... the GPU has been making more than the ASICs.

650 KH/s on the GPU on scrypt > 33GH/s ASIC on Sha256d.
sr. member
Activity: 476
Merit: 250
I ain't worryin' one little bit about ASICS.

Scryptcoins, convert, cash out and live on a beach being served Mojitos by bare-breasted native women in grass skirts.

Think of the coins you could earn with a Scrypt setup while you wait for Godot.....................

My $.02.

Wink

member
Activity: 83
Merit: 10
KnC sold out of their first batch of Neptune miners. LR, did you get in line for Q1/Q2 delivery? I'll tell you which Q mine gets delivered. Smiley
hero member
Activity: 504
Merit: 500
I find the merged mining coin (Namecoin) a great idea.

Why ?

Simply because at 25 TH/s merged mining NMC can weekly bring ~ 3.81BTC (~ 4,405 $).
This can literally bring almost a Cointerra Miner per Week to LRM in addition to the already reinvestment plan in place.

A very good income for reinvestment or LRM operating load.
newbie
Activity: 49
Merit: 0
Was there a discussion about merged mining?

If LRM is now driving 30TH is there any possibility of merged mining for other alt coins?

I know the contract is to buy bonds in return for a share of the BTC rewards (not the hardware) however I would be interested in receiving NameCoins to invest in other pools such as CEX.IO?

Mt Gox is going some way with there new API to trade LTC and (possibly) NMC + others.

From an LRM management point of view I appreciate this may not be something that could be considered until the trading portal is ready and bondholders can register their alt coin wallet addresses?

At the end of the day (to coin a phrase - no pun intended) 'Every Satoshi Helps'!

Thoughts?
newbie
Activity: 49
Merit: 0
Difficulty up 16% to 707 - not too bad and hashrate still levelling off  Smiley
newbie
Activity: 49
Merit: 0
... I personally find it really easy to use, but do see where people not at a intermediate or above level in using computers would struggle.

There's always consultancy for a BTC fee ?  Undecided
member
Activity: 112
Merit: 10
I sent LR a private message on this topic.

I'm starting to think it would be worthwhile to start buying litecoin (LTC) mining hardware - whether LR agree's or not. At least folks on a private level people can take advantage. It is seeming inevitable that LTC will be accepted as pay. OkPay just accepted LTC this past day or so, and MtGox is working on adding LTC to be traded with their new engine (whcih will likely get Coinbase to add it and maybe Bitpay to accepting it - an instant massive utility improvement. LTC is currently booming up on large volume. It hit $30 per coin, and is back to trading at about 30 LTC/BTC. Also, because of supply values, where BTC is set to peak at 21mill and LTC is set to peak at 84mill (not sure over what time period), it seems logical or intuitive anyway that LTC will move upwards to 1/4th the price per coin as BTC. If true, LTC has about eight times more growth to just catch up to to that level. In other words, from this time forward, any percentage value gain BTC ends up with, multiply that gain by upwards of eight times for litecoin, just my gut.

Even if people didn't want the LTC, mining for it can be like proxy mining for BTC. You can trade them easily enough on BTC-e....

....and ROI with hardware is 3 months. Should be even faster now with higher prices.  All this without worrying about the ASIC swarm...yet.


Interesting.  I like the idea but might be out of scope (currently) for LRM.  Other than GPU's, are there any actual real options yet?  The only things I've found thus far are FPGA's still in development stages.

If GPUs are the only real options at the moment, it might be difficult to source good ones.  Lots of 7950's are going discontinued.  I have not checked 70's or 90's and it seems people are having trouble getting any significantly better performance out of the new R9 cards ($/kHs, kH/J).

I doubt FPGA's will be better than GPU's anytime soon with LTC, unless BFL makes them with the Stratix III chips they used in their FPGA Singles everyone returned. Otherwise, the hardware cost are more expensive on the front end. I won't be surprised if they come up with one seeing how LTC is doing.

ASIC's are probably far enough out that GPU's - if they can be acquired - are still a good investment.








That's the conclusion I came to as well.  Also, regarding ASIC's for Scrypt, I really doubt the cost / khs or kh/J benefit would be 300x a GPU like they are for SHA256.  Assuming price remains high(edit to clarify: value of Scrypt coins), I think GPUs will do well for quite a while.  And BTW, my favorite 7950 just came back in stock it seems.

I doubt LRM would want to start a new GPU farm especially as a one man op, but it is something I have been considering personally.  I just recently used gyft to get Amazon gift cards to get parts for another rig.  Bitcoin really is amazing in a lot of ways.  I personally find it really easy to use, but do see where people not at a intermediate or above level in using computers would struggle.
full member
Activity: 146
Merit: 100
Hey. Happy Thanksgiving to all you guys and gals over the pond  Grin

Thanks!  It threw me off, because I'm so use to checking for LRM dividends on my first day off after the work week.
sr. member
Activity: 454
Merit: 252

These aren't aimed toward your average individual... $10k buy in on 1 rig....

Is this code that it's aimed for... a mining farm?  Our mining farm?

The timing of LR's big surprise and the KNC announcement on the same day springs all sorts of conspiracy-mongering to mind.
But correlation does not mean causation.

It may have been one of the things I knew was going to happen today, but the news I got on the other front may be a bust.  Going to be another couple days to figure out what's going on, if we decide to go that route... I'm really hoping it works out though.

I like that LR is being picky, it's ok to sit on BTC until the right deal comes a long. Hope you get the right deal, but if you don't - walk away. If you play poker at a full table, you will have a losing hand 90% of the time - but you can still make money. Quick recognition of losing hands is a great business skill.
newbie
Activity: 49
Merit: 0
Hey. Happy Thanksgiving to all you guys and gals over the pond  Grin
hero member
Activity: 924
Merit: 506
I sent LR a private message on this topic.

I'm starting to think it would be worthwhile to start buying litecoin (LTC) mining hardware - whether LR agree's or not. At least folks on a private level people can take advantage. It is seeming inevitable that LTC will be accepted as pay. OkPay just accepted LTC this past day or so, and MtGox is working on adding LTC to be traded with their new engine (whcih will likely get Coinbase to add it and maybe Bitpay to accepting it - an instant massive utility improvement. LTC is currently booming up on large volume. It hit $30 per coin, and is back to trading at about 30 LTC/BTC. Also, because of supply values, where BTC is set to peak at 21mill and LTC is set to peak at 84mill (not sure over what time period), it seems logical or intuitive anyway that LTC will move upwards to 1/4th the price per coin as BTC. If true, LTC has about eight times more growth to just catch up to to that level. In other words, from this time forward, any percentage value gain BTC ends up with, multiply that gain by upwards of eight times for litecoin, just my gut.

Even if people didn't want the LTC, mining for it can be like proxy mining for BTC. You can trade them easily enough on BTC-e....

....and ROI with hardware is 3 months. Should be even faster now with higher prices.  All this without worrying about the ASIC swarm...yet.


Interesting.  I like the idea but might be out of scope (currently) for LRM.  Other than GPU's, are there any actual real options yet?  The only things I've found thus far are FPGA's still in development stages.

If GPUs are the only real options at the moment, it might be difficult to source good ones.  Lots of 7950's are going discontinued.  I have not checked 70's or 90's and it seems people are having trouble getting any significantly better performance out of the new R9 cards ($/kHs, kH/J).

I doubt FPGA's will be better than GPU's anytime soon with LTC, unless BFL makes them with the Stratix III chips they used in their FPGA Singles everyone returned. Otherwise, the hardware cost are more expensive on the front end. I won't be surprised if they come up with one seeing how LTC is doing.

ASIC's are probably far enough out that GPU's - if they can be acquired - are still a good investment.






sr. member
Activity: 294
Merit: 250
is labrat still planing to sell more shares directly?  Is there any progress on a new trading system?
member
Activity: 112
Merit: 10

Thanks for that.  That looks familiar.  I think I did see that before.  I must have disregarded it after seeing the 'late stages of development' and the dreaded p word.  Worth watching to see what the pre-order terms are and payment options. 
member
Activity: 112
Merit: 10
I sent LR a private message on this topic.

I'm starting to think it would be worthwhile to start buying litecoin (LTC) mining hardware - whether LR agree's or not. At least folks on a private level people can take advantage. It is seeming inevitable that LTC will be accepted as pay. OkPay just accepted LTC this past day or so, and MtGox is working on adding LTC to be traded with their new engine (whcih will likely get Coinbase to add it and maybe Bitpay to accepting it - an instant massive utility improvement. LTC is currently booming up on large volume. It hit $30 per coin, and is back to trading at about 30 LTC/BTC. Also, because of supply values, where BTC is set to peak at 21mill and LTC is set to peak at 84mill (not sure over what time period), it seems logical or intuitive anyway that LTC will move upwards to 1/4th the price per coin as BTC. If true, LTC has about eight times more growth to just catch up to to that level. In other words, from this time forward, any percentage value gain BTC ends up with, multiply that gain by upwards of eight times for litecoin, just my gut.

Even if people didn't want the LTC, mining for it can be like proxy mining for BTC. You can trade them easily enough on BTC-e....

....and ROI with hardware is 3 months. Should be even faster now with higher prices.  All this without worrying about the ASIC swarm...yet.


Interesting.  I like the idea but might be out of scope (currently) for LRM.  Other than GPU's, are there any actual real options yet?  The only things I've found thus far are FPGA's still in development stages.

If GPUs are the only real options at the moment, it might be difficult to source good ones.  Lots of 7950's are going discontinued.  I have not checked 70's or 90's and it seems people are having trouble getting any significantly better performance out of the new R9 cards ($/kHs, kH/J).
Jump to: